Cardinal Health stock rises after Q4 profit, revenue beats

Cardinal Health Inc.
CAH, +2.26%
shares rose 1.5% in heavy Monday morning trade after the company reported fourth-quarter profit and revenue beats. The company reported a loss of $1.2 billion, or a loss of $3.76 per share, after earnings of $274 million, or 86 cents per share in the year-earlier period. The results include an impairment of $1.4 billion largely due to the performance of its Cordis unit, which was acquired by Cardinal Health in 2015 and sells cardiovascular products. The Cordis business has struggled with operational and supply chain issues, but company executives said on a Monday conference call that the unit should become profitable by the end of the 2019 fiscal year. Adjusted earnings-per-share were $1.01, above the FactSet consensus of 93 cents. Revenue rose to $35.35 billion from $32.97 billion, above the FactSet consensus of $34.38 billion. The company's pharmaceutical sales beat the consensus, though profit declined due to generic drug performance, while medical sales missed. Cardinal Health expects 2019 adjusted EPS of $4.90 to $5.15, compared with the FactSet consensus of $5.09. Cardinal Health shares have dropped nearly 4% over the last three months, compared with a 6.8% rise in the S&P 500
SPX, +0.64%
and a 4.9% rise in the Dow Jones Industrial Average
DJIA, +0.45%

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